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Writing a one-page business plan you will actually use

By Priya Nair

A practical guide for Malachain readers, written from everyday experience.

A business plan does not need to be fifty pages to be useful. For a small venture the most valuable version fits on one page: who the customer is, what problem you solve, how you reach people, what it costs to deliver and how much you need to sell to cover those costs. Writing those five answers forces the vague parts into the open, which is exactly where the risk hides.

Treat the page as a living document rather than a presentation. Revisit it at the end of every month, change the numbers that turned out to be wrong, and note which assumption surprised you. After a year you will have a short, honest record of how the business really works, which is worth more to a lender or a partner than any polished forecast.

If you try any of these ideas, start small and adjust them to your own situation. What works for one person will not suit everyone, and it is fine to keep only the parts that help. Writing down what you changed, and what happened, makes it much easier to see after a few weeks whether the effort was worthwhile.

The most useful step is usually the first one. Pick a single suggestion, try it for a couple of weeks, and then decide whether it is worth keeping. Small, steady improvements last longer than ambitious plans that are hard to maintain once everyday life gets busy again.

It also helps to talk the subject through with friends or colleagues who have tried something similar. Their experience points out the details that guides leave out: how long things really take, which costs were unexpected, and which shortcuts turned out to be a mistake.

Filed underplanningsmall business

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